A Main Contractor recently asked Merranti to monitor the credit rating on a list of their suppliers, this is where we use specialist credit monitoring software to tell us immediately if there is any change in not only the Credit Rating but also a change of address, Directors or debentures as well as Court Summonses.
However, the system also monitors the Directors, so if they are part of another company that fails,. This is what happened with one of their suppliers; we noticed that two of the Directors had recent failures in other companies which had gone into administration, in addition, they had started trading in a third company. On further investigation, it became apparent that the company that our client dealt with was about to fold, with this information they were able to review their payment terms and the supply and avoided a potential credit failure which would have seriously affected the company.
This type of payment avoidance happens all too often where a Director will start a company in advance of the old one failing and switch their existing customers, leaving the debt in the old company for it to be struck off or enter into administration.
Knowing this in advance is key to protecting your business. If you would like your Free Company Credit Check or Report for free, then let us know, and we can send on.
If you would like us to monitor your customers/suppliers, then this starts at just £10 per month,and we have to say is probably the best decision you can make in business today.
How can we help you?
Monitor your own Company Credit Rating
B2B Company checking, know in advance if your customers have credit issues.
Notifications of any CCJ’s
Warning if company Directors have company failures.
Check Credit Rating before giving Credit.
Contact Anthea Franklin who can assist in setting up your Free Company Credit Check Account and start protecting your business.
Receive your Free Company Credit Check for your own Company.